TRENTON — The state Assembly has passed a bill that would restructure the state’s corporate tax code, potentially giving a major tax break to some companies.

The bill (A1676) would base the state’s corporate income tax solely on a companies’ in-state sales. Currently, income taxes for companies that also do business out of state are calculated based on three fractions: its sales in state over its total sales; its property in state over all of its property; and its in-state sales, which account for 50 percent of the formula.

The measure, which passed 76-0, is intended to attract out-of-state companies to New Jersey, and could have a hefty price tag. Rate analysts said a 2008 version of the bill that applied just for manufacturing companies would mean $77.5 million less in revenue. But an analysis by the liberal-leaning New Jersey Policy Perspective of a 2001 version of the bill said it would amount to a $250 million revenue loss.

The legislation is part of package of bills the Assembly and Senate are taking up today that Democrats say are intended to spur job growth in New Jersey.

Other bills passed by the Assembly include legislation to create an on-the-job training program for unemployed residents who can continue receiving unemployment checks (A3584); a fund of up to $50 million to keep businesses in-state and attract new ones (A3353); a bill allowing counties and municipalities to set aside a portion of their public contracts for companies that hire former prisoners (A3596); and a partial student loan forgiveness for workers in high-demand fields (A-3513).

Republicans took issue with the loan forgiveness program because they said people going into those fields had already made their career choices, and that it would not encourage any more of the workers. They also said it favors higher educated workers over others.

“It’s essentially a wealth transfer from those people who are not college educated and working in New Jersey to those who are college educated and are working in New Jersey,” said Assemblyman Jay Webber (R-Morris). The program would also apply to people with two-year associate degrees.

Another bill (A3535) scheduled for a vote in both houses today would allow business owners to offset taxes on gains from one business with losses from another, and to carry forward those losses on taxes for 20 years. The State Division of Taxation estimates it will mean as much as $400 million in annual lost revenue.